October 2023 Cumberland County Real Estate Market Stats

October 2023 Cumberland County Real Estate Market Stats

The real estate market for Single Family Homes in Cumberland County experienced slight shifts in October.

The 12.2% surge in the average sales price of single-family homes from the previous year, reaching $538,500, is indicative of robust demand and price growth. Alongside this, a slight 1.3% increase in the number of homes sold compared to the same month the previous year. 

Homes continued to sell swiftly, with a median time of just 7 days on the market, the same average days on the market as the same period the previous year.

The list-to-sale price ratio remained fairly the same, reaching 102.6%, reflecting a 0.5% increase from the previous year and a small decrease from the previous month.

Moreover, the 9.9% increase in the month's supply of inventory suggests that buyers have more housing options in the region, potentially contributing to a slower sales rate.

Cumberland County's Single Family real estate market in October demonstrated robust demand with a 12.2% increase in average sales price. With a slightly improved list-to-sale price ratio, the number of homes sold and time on the market remained stable. A notable 9.9% increase in inventory supply suggests more choices for buyers, potentially influencing a more measured sales rate. The market appears dynamic, offering opportunities for both buyers and sellers.

Let's Connect

Our team of full-time professional Real Estate Brokers, along with an exceptional support staff, is dedicated to delivering personalized service that exceeds our clients' expectations while providing guidance throughout the complex home buying and selling process.

Follow Us on Instagram